Former CEO Of Crypto Mining Company IcomTech, Marco Dunia, Sentenced To 5 Years In Prison

On January 19, the former CEO of crypto mining company IcomTech, Marcoongela, was sentenced to five years in prison after pleading guilty to conspiracy charges for fraud via wire transfer.

According to a January 19 filing at the United States District Court for the Southern District of New York, Judge Jennifer Rochon ordered silting $914.000 and voluntarily surrendered to serve a 60-month sentence, starting on March 19. He will follow a two-year parole period.

In September 2023,ongya pleaded guilty to a conspiracy to commit fraud through the crypto-based Ponzi scheme at IcomTech. He served as CEO of the mining company from 2018 to 2019.

"IcomTech is one of the large-scale crypto scam schemes, and bancaya, as the mentioned CEO, plays an important role in developing IcomTech and ultimately harms more victims," said United States Attorney Damian Williams in September.

According to the Justice Department, IcomTech promised investors a daily refund of investment products, but they were unable to withdraw funds. Authorities demanded silica and other IcomTech executives in November 2022, about three years after the company collapsed.

David Carmona, founder of IcomTech, also pleaded guilty to a conspiracy to commit fraud via wire transfer in December 2023. Four other IcomTech executives who are defendants in this case have pleaded guilty and innocent, but bancaya is the first to be convicted.

Many crypto figures have appeared in the courtroom over the past 12 months in response to prosecution by the United States authorities. In November 2023, former FTX CEO Sam Bankman-Fried was found guilty of seven criminal charges and is expected to be sentenced in March. Former Binance CEO Changpeng Zhao also pleaded guilty to one criminal charge as part of the agreement between the prosecutor and the crypto exchange.